You know there are times when markets are half falling over and I'm clapping my hands with glee and there are other times when they are half falling over and I think ,hmmmmmm.
The printing experiment ,which is basically something they had to do unless they wanted to see a total washout and in turn they themselves lose total credibility as well as their constituencies is now facing the crossroads ,with people wondering where the growth is going to come from once the taps are turned off.
Behind the scenes I think a lot of progress has been made in balancing markets with the retail crowd at least becoming more frugal in their investment decisions ,ironically the opposite of what the boffins want. Similarly a lot of companies have become circumspect about how and where they spend their money ,it is a case of survival of the fittest in some sectors.
Therefore if conditions dictate that there is a lot more downside then we are certainly better placed when the worm turns . Another prop up from here would be the worst thing longer term .Over time I'm very optimistic ,it may take some time to work through the aforementioned issues
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